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A company raises the price of its product, and total revenue decreases. What can be concluded about the elasticity of demand?
A movie theater reduces ticket prices from \$12 to \$10, and the number of tickets sold increases from 300 to 400. What is the effect on total revenue, and what does this indicate about demand elasticity?
A company sells 500 units at \$30 each. After a price increase to \$35, the quantity sold drops to 400 units. Calculate the total revenue before and after the price change.
A company notices that after a price decrease, their total revenue increased. What can be concluded about the elasticity of demand?
What is the price effect in the context of total revenue?
On a graph showing total revenue, if the area representing the price effect is equal to the area representing the quantity effect after a price change, what does this indicate?
If a company increases the price of its product from \$20 to \$25 and the quantity sold decreases from 200 units to 150 units, what happens to the total revenue?
What is the formula for calculating total revenue?
What happens to total revenue when the price of a product decreases and demand is elastic?
On a graph showing total revenue, if the area representing the price effect is smaller than the area representing the quantity effect after a price increase, what does this indicate?